After a rough few years, the Co-Operative Group has been upgraded by S&P
Standard and Poor has upgraded the Co-Operative Group's credit rating and has said the group is now stable. This comes as great news after several difficult years during which the group has suffered financially and reputationally thanks to the Co-Operative Bank and its former chariman Paul Flowers.
However thanks to the sale of it's pharmacy and farms, as well as growth within its food sector, the Co-Operative turnaround plan is bearing fruit. The group is planning to open hundreds of new food stores in the next few years, and is recruiting thousands of new staff.
Meanwhile Access Point's own partnership with the Co-Operative has been going from strength to strength with in-store event activity increasing by 200% in 2014
Its investment in reducing the cost of fruit and veg has not only given it a fighting chance in the price wars but many would say put it ahead of the game, as discussions of whether to levy a tax on sugary processed foods gather pace.
However this is only beginning of the group's turnaround plan, with dividends to members set to resume in 2017. The 165 year old group has it seems once again refuted many who thought it had passed its day and is repositioning itself for the next chapter in its history.